Hailing the Indian Space Research
Organisation for the successful launch of the Geosynchronous Satellite
Launch Vehicle (GSLV) D5, defence major Hindustan Aeronautics Ltd (HAL)
today noted that its Aerospace Division had contributed in a significant
way towards the project. "HAL's Aerospace Division contributed in a
significant way towards the launch by supplying 13 types of riveted
structural assemblies and seven types of welded propellant tankages and
feed lines, which include three structures and two propellant tankages,"
HAL Chairman R K Tyagi said. From the spaceport at Satish Dhawan Space
Centre at Sriharikota, ISRO today successfully launched the GSLV D5
with an indigenous cryogenic engine to enter a select club of nations.
HAL had integrated and delivered all four L40 booster rockets, the
company said in a release, adding that "it (had) provided the bare
structure of the communication satellite (GSAT-14), an assembly of
composite and metallic honeycomb sandwich panels with a composite
cylinder". The release added that the HAL-ISRO partnership has been
growing over the years and is poised to achieve more.
Correlating the ups and down in the Indian rupee with the stock market, Vijay Bhambwani, CEO, bsplindia.com, suggests that if the rupee continues with its downward fall, the Indian stock market may fall breach October lows and fall further. “If the rupee falls below the 53.0-53.50 mark vis-a-vis the USD, expect a mini meltdown atleast in the equity markets. In that case, the 2250 level (on Nifty) will be breached easily to form a new low. The possibility of that low being below the 2000 levels on the Nifty spot is fairly high,” he says. Bhambwani supports his outlook by comparing the value of rupee at the time of October lows. “The October 2008 lows were made with the INR at 51.20 - 51.40 band. The rupee has breached the 52 level since then. Clearly the nation’s ‘share price’ (currency) indicates weakness. The curency market is a far more accurate barometer of the nation’s health compared to the equity indices. Whether you like it or not, we are under siege. Had it not been March (NAV ...
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